๐จ
#CL โ THE SHORTS JUST GOT CRUSHED
๐ฐ $1.02M SHORT LIQUIDATED @ $90.92
That is a serious leverage flush.
A $1M+ short liquidation at $90.92 shows how aggressively traders were positioned against crude โ and when those shorts are forced out, the resulting buyback can add fuel to the next price swing.
๐ KEY LEVELS TO WATCH
โข Liquidation zone: $90.92
โข Immediate pivot: $90โ91
โข Upside pressure: $92โ94
โข Major recent resistance: $96+
โข Recent WTI volatility remains elevated after September's sharp price swings.
โก WHAT I'M WATCHING NEXT
The interesting part isn't the liquidation alone โ it's whether CL can hold above $90 after the short squeeze.
๐ข Above $91โ92: bulls could attempt another expansion toward $94โ96.
๐ Failure around $91: the squeeze may fade, opening room for a retest of the $89โ90 area.
๐ด Below $89: the bullish momentum from the liquidation would be significantly weakened.
๐ Fundamentals are adding another layer of volatility: Gulf crude exports have been recovering, while geopolitical uncertainty and upcoming OPEC+ decisions remain important drivers for oil. Reuters reports WTI around $89.18 today after a roughly 5% September gain.
๐ฅ TRADER'S TAKE:
$90 is the battlefield. If buyers defend it, the $1.02M short wipeout could become the spark for another upside leg. If price slips back below the zone, today's squeeze could turn into a liquidity trap.
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